Major Step Toward Renewable Integration
In a major boost to Odisha’s renewable energy (RE) mission, GRIDCO today signed two RE banking agreements — with M/s ReNew E-Fuels Private Limited for 50 MW and M/s UltraTech Cement Ltd for 6.25 MW. The signing ceremony took place in the presence of Hon’ble Deputy Chief Minister and Minister of Energy Shri Kanak Vardhan Singh Deo, reaffirming the state’s commitment to advancing RE adoption and strengthening the Green Hydrogen and Green Ammonia ecosystem.
Odisha Reinforcing Its Green Leadership
Speaking on the occasion, Deputy Chief Minister Shri Kanak Vardhan Singh Deo highlighted that the agreement reinforces Odisha’s leadership and commitment to sustainable industrial growth. “Odisha is driving industrial development backed by robust green policies, strong infrastructure, and strategic seaports to meet the growing industrial demand,” he said.
He further informed that the state has so far approved 14 Green Hydrogen and Green Ammonia projects, involving a proposed investment of around ₹2 lakh crore. These projects are projected to create employment opportunities for nearly 22,000 people, marking a transformative shift toward a greener and more resilient economy.
RE Banking: A Solution for Energy Intermittency
Explaining the significance of the RE banking mechanism, Principal Secretary (Energy) Shri Vishal Dev stated that renewable energy sources like solar and wind are intermittent and weather-dependent. “RE Banking enables consumers to store surplus energy generated during high-output periods and withdraw it during low-generation times, ensuring stability and reliability of supply,” he said.
This innovative energy management system allows industries to effectively utilize renewable energy without compromising operational efficiency, paving the way for consistent and sustainable industrial growth.
Progressive Policy Framework Underpinning Growth
Odisha’s renewable energy expansion is guided by the Odisha Renewable Energy Policy, 2022, and OERC (Promotion of Renewable Energy through Green Energy Open Access) Regulations, 2023. These frameworks aim to promote green energy generation, enable open access, and support the production of Green Hydrogen and Green Ammonia.
The policy provides a wide range of incentives and opportunities for investors and industries to set up renewable energy projects in the state, ensuring both environmental sustainability and economic progress.
Strong Institutional Presence
The event was attended by Shri Satyapriya Rath, Managing Director, GRIDCO, representatives from ReNew E-Fuels Private Limited and UltraTech Cement Limited, and senior officers from the Energy Department and GRIDCO.
The agreements mark another milestone in Odisha’s journey toward becoming a national leader in renewable energy transition and green industrialization, laying the foundation for a cleaner, self-reliant, and prosperous future.